25 November 05:28 AM
The common European currency is gradually consolidating within the 1.3280 -1.3430 price range. Yesterday EURUSD was uncertain about the further destination.
The current situation in the EU states is far from being positive. The Euro Stabilization Fund doesn’t have enough money for all the needy. At this point Ireland is the 1st on the list to be rescued by receiving 90B euro. Portugal comes second. It will need 50B euro. However, the money is not enough to help Spain to completely clear its sovereign debt, not to mention other countries.
Today’s only significant news is СВI Realized Sales (UK) at11:00GMT
For the European trading session the Department of Volume Analysis of Masterforex-V Academy defines:
The mid-term dynamics has a sideward tendency
The short-term dynamics of 6ECONT (EURUSD futures):
At this point the hint for making a correct trading decision will be the market reaction to 1.3350 (yesterday’s max volume - 6500 lots). An upswing from the level will prompt a bullish movement while a downward breakout will indicate the downtrend continuation.
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